FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Transcribed Image Text:Kansas Enterprises purchased equipment for $76,000 on January 1, 2021. The equipment is expected to have a
ten-year service life, with a residual value of $8,850 at the end of ten years.
Using the double-declining balance method, depreciation expense for 2021 would be: (Do not round your
intermediate calculations)
Multiple Choice
$6,350.
$13,430.
$15,200.
$7,600.
Transcribed Image Text:Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a
ten-year service life, with a residual value of $8,250 at the end of ten years.
Using the straight-line method, depreciation expense for 2021 would be:
Multiple Cholce
$7,175.
$8,825.
$16,000.
$8,000.
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